Chakpak.com, a film based content portal has raised an undisclosed amount of money from VC firm Cannan Partners, according to Pluggd.in, a Yahoo employees blog. We contacted Alok Mittal of Canaan Partners about the investment, who, on being asked for a denial of the investment, said “I’m not confirming it.” Independent sources have confirmed the investment to MediaNama. We have not been able to ascertain the amount of investment.
Chakpak is essentially a content portal around films, covering Bollywood, Tamil and Telugu films., with movie timing, movie information, film reviews, a stars directory, video clips, wallpapers, film news etc. It has social features, but its focus appears to be more on content, though there are social features as well.
Chakpak will compete with the likes of Bollywood Hungama (formerly IndiaFM), Buzz18, ZoomTV, E24Bollywood, MyPopKorn, and 45 million other many other Bollywood and celebrity focused sites. Remember, the ABC of Indian content – Astrology, Bollywood and Cricket – are all rather crowded domains. Among the monetization opportunities that Chakpak has, is a tie-up with a ticketing service.
For Canaan’s sake, I hope Chakpak has a miracle (or a dozen) up its sleeve. On a brighter note, based on this deal, and the one in VDOPIA that we reported last week, it appears that investments haven’t completely dried up.
Disclosure: I own an inconsequential number of shares of Network18; Buzz18 is a Network18 property